Business Daily from THE HINDU group of publications
Sunday, Dec 21, 2008
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Business Daily from THE HINDU group of publications Sunday, Dec 21, 2008 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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New Projects Web Extras - Minerals
Our Bureau Chennai, Dec. 20 Tata Steel Ltd is “very disappointed with the Tamil Nadu Government” for not making available the land for its proposed Titanium di-oxide project, the Managing Director of the company, Mr B. Muthuraman, told Business Line on Saturday. In June 2007, Tata Steel signed a formal MoU with the Government of Tamil Nadu; it proposed to invest Rs 2,500 crore in the project. The company needs between 10,000 acres and 12,000 acres of land in the Southern districts of Tirunelveli and Tuticorin for mining the ilmenite ore from the top soils. “They have not been able to solve the land problem. We want to invest and we can invest only when we get the land. The State has to decide if it wants progress or not,” he said. Mr Muthuraman, an alumnus of IIT-Madras, was here to participate in a panel discussion in ‘Pan IIT 2008’, an event organised by IIT alumni. “How can we?” Mr Muthuraman retorted when asked if Tata Steel could not acquire the land on its own. It is not possible, he said, for a company to acquire such large tracts of land. He stressed that the land is arid and is not being a productive asset for the people who own it.
Tata Steel’s investment would develop the area — and what more! — the company would return the land (after a few decades) in a better state, because what was needed was only the top soil. “It is a project that will benefit a lot of people. The Tamil Nadu Government has not been proactive and they are going to lose this project. I would be happy to invest even in these difficult times. Today, I have a great excuse for not doing this project. I just have to lock the office and withdraw my people. I am very keen to do that but it is my persistence, my tenacity and the desire to have the project is what is keeping me here,” Mr Muthuraman said. Tata Steel’s TN project stuck on land issue More Stories on : New Projects | Minerals | Mining & Quarrying | Tata Steel Ltd
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